Insider Selling: Nancy Buese Sells 5,000 Shares of MarkWest Energy Partners Stock (MWE)
MarkWest Energy Partners (NYSE:MWE) CFO Nancy Buese unloaded 5,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $69.52, for a total value of $347,600.00. Following the transaction, the chief financial officer now directly owns 107,065 shares in the company. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Jefferies Group initiated coverage on shares of MarkWest Energy Partners (NYSE:MWE) in a research note to investors on Wednesday, September 4th. They set a “buy” rating and a $86.00 price target on the stock. Separately, analysts at Barclays Capital raised their price target on shares of MarkWest Energy Partners (NYSE:MWE) from $74.00 to $77.00 in a research note to investors on Wednesday, August 14th. They now have an “overweight” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. upgraded shares of MarkWest Energy Partners (NYSE:MWE) from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, August 14th. They now have a $81.00 price target on the stock, up previously from $70.00.
One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $74.64.
MarkWest Energy Partners (NYSE:MWE) traded down 1.21% during mid-day trading on Friday, hitting $68.60. The stock had a trading volume of 570,877 shares. MarkWest Energy Partners has a one year low of $46.03 and a one year high of $71.46. The stock’s 50-day moving average is $68.75 and its 200-day moving average is $64.81. The company has a market cap of $9.671 billion and a price-to-earnings ratio of 117.10.
MarkWest Energy Partners (NYSE:MWE) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.55 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.33. The company had revenue of $415.12 million for the quarter, compared to the consensus estimate of $435.60 million. During the same quarter last year, the company posted $1.47 earnings per share. MarkWest Energy Partners’s revenue was down 6.3% compared to the same quarter last year. Analysts expect that MarkWest Energy Partners will post $1.13 EPS for the current fiscal year.
MarkWest Energy Partners, L.P. is a master limited partnership engaged in the gathering, processing and transportation of natural gas; the transportation, fractionation, storage and marketing of NGLs, and the gathering and transportation of crude oil.
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